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Alert: John Monarch has submitted multiple false DMCA takedowns in an attempt to suppress the USA Herald articles.   This story has replaced the photo with a photo that does not belong to John Monarch nor can be accused of a derivative work.

The Securities and Exchange commission delivered an early Christmas present to John Monarch last year with a legal action that shut down Shipchain.  Monarch, a long-time resident of Greenville, South Carolina, ceased all operations when the SEC served him with the complaint, causing his investors to lose millions of dollars.

This isn't the first time that John Monarch has run into legal trouble.   Thousands of consumers have complained online of having money stolen from them in an alleged bank fraud scheme that we reported on here. 

Consumer complaint examples that link back to John Monarch’s Direct Outbound Services:

“This has to be one of the biggest internet scams I have ever personally seen even if it is for relatively small amounts of money.  Why they continue to get away with this is mind boggling.”

“They are a bait and switch, they offer the 30-day “risk-free” and 14-day trial, however the fine print is how they take advantage of you and charge you extra, including doubling shipping charges.”

The alleged bank fraud scheme that John Monarch has links to is still running under the statute of limitations for mail fraud and wire fraud prosecutions which is five years (18 U.S.C. § 3282), except for mail and wire fraud schemes that affect a financial institution, in which case the statute is ten years (18 U.S.C. § 3293).   It appears that in Monarch's case both statutes would apply.

The USA Herald cannot confirm nor deny whether the FBI is investigating Monarch.   Typically the SEC brings its action first with the DOJ to follow.    It is possible that Monarch committed a federal crime when he took money from Shipchain investors under alleged false pretenses, as we've reported here in the past.   Many of Monarch's investors in  Shipchain took to the internet to lament over lost money.

Resolved to stop John Monarch from hurting more people, Pennsylvania businessman Richard Gorman has vigorously pursued John Monarch for the past 7+ years.    Gorman, who helped contribute to this article, was the victim of a blackmail that is alleged to have been carried out by John Monarch, an unnamed co-defendant, and Karl Steinborn (who was held liable for $3.1M and subsequently committed suicide on Gorman's birthday in 2016).